Lamps & Lighting - Turkey

Turkey

In Turkey, the revenue generated in the Lamps & Lighting market is estimated to reach €259.40m in 2024.
It is projected that the market will experience an annual growth rate of -0.43% (CAGR 2024-2029).
Comparing globally, in the United States generates the highest revenue in this segment, amounting to €29,640m in 2024.
When considering the population, the per capita revenue in Turkey is approximately €3.01 in 2024.
Turkey's market for decorative lamps and lighting fixtures is booming, with a growing demand for Turkish-made products known for their unique designs and high-quality craftsmanship.

Key regions: Brazil, China, Denmark, United Kingdom, Worldwide

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Comparación de regiones

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Analyst Opinion

The Lamps & Lighting market in Turkey is experiencing significant growth and development. Customer preferences are shifting towards more energy-efficient and eco-friendly lighting solutions. LED lighting is becoming increasingly popular due to its long lifespan and low energy consumption. Additionally, there is a growing demand for smart lighting systems that can be controlled remotely through smartphones or voice assistants.

Customer preferences: Customers in Turkey are increasingly concerned about energy consumption and its impact on the environment. As a result, there is a growing preference for energy-efficient lighting solutions. LED lighting is the preferred choice for many customers due to its long lifespan and low energy consumption. LED lamps are not only more energy-efficient but also produce less heat compared to traditional incandescent bulbs, making them safer and more durable.

Trends in the market: One of the key trends in the Lamps & Lighting market in Turkey is the growing demand for smart lighting systems. These systems offer convenience and energy savings by allowing users to control the lighting in their homes or offices remotely. Smart lighting can be controlled through smartphones or voice assistants, enabling users to adjust the brightness, color, and timing of their lights. This trend is driven by the increasing adoption of smart home technology and the desire for personalized lighting experiences. Another trend in the market is the integration of lighting with home decor. Customers are now looking for lighting fixtures that not only provide illumination but also enhance the aesthetic appeal of their living spaces. As a result, there is a growing demand for stylish and decorative lighting solutions. Manufacturers are responding to this trend by offering a wide range of designs and styles to cater to different customer preferences.

Local special circumstances: Turkey has a rapidly growing population and a strong construction industry. This has led to an increased demand for lighting products in both residential and commercial sectors. The government has also implemented various initiatives to promote energy efficiency and sustainability, which further drives the demand for energy-efficient lighting solutions. Additionally, Turkey's geographical location and climate make natural lighting insufficient in certain areas, increasing the reliance on artificial lighting.

Underlying macroeconomic factors: The Lamps & Lighting market in Turkey is influenced by various macroeconomic factors. The country's economic growth and rising disposable incomes have contributed to an increase in consumer spending on lighting products. Additionally, the government's focus on infrastructure development and urbanization has led to a higher demand for lighting products in the construction sector. The growing tourism industry in Turkey also drives the demand for lighting in hotels, restaurants, and other hospitality establishments. In conclusion, the Lamps & Lighting market in Turkey is experiencing growth and development driven by customer preferences for energy-efficient and eco-friendly lighting solutions. LED lighting and smart lighting systems are becoming increasingly popular. The integration of lighting with home decor is also a growing trend. Turkey's growing population, construction industry, and government initiatives to promote energy efficiency are contributing to the market's growth.

Methodology

Data coverage:

Data encompasses B2C enterprises. Figures are based on home furnishings and furniture found in every room of the home. This market is categorized by the room where the furniture is likely to be used and consists of the following: Living Room, Bedroom, Kitchen & Dining room, Outdoor, Home Office, and Baby & Children's Furniture. The Furniture market also includes Lamps and Lighting and Home Décor because the furnishings and accessories within these categories are not specific to any room.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use national statistical offices, international institutions, in-house market research, and resources from the Statista platform. Next we use relevant key market indicators and data from country-specific associations such as consumer spending and GDP. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, exponential trend smoothing is well suited for forecasting the Furniture market with a projected steady growth. The main drivers are furniture and furnishings, carpets and other floor coverings, and consumer spending per capita.

Additional Notes:

The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.